Applications now open for the Venture Catalysts program, designed to help scientists and entrepreneurs commercialize their research

Investment and Development Agency of Latvia (LIAA) in cooperation with UniLab and RTU Riga Business School, announces a new series of training courses dedicated to the commercialization of scientific research and the creation of technologically intensive start-ups. These trainings are designed to provide scientists, entrepreneurs and students with the necessary knowledge and practical skills to successfully develop start-ups based on scientific research and innovative ideas.

Raivis Bremšmits, director of LIAA: "These trainings are a valuable step for anyone who wants to create and develop their own knowledge-based start-up, gaining a deeper understanding of science and technology commercialization and receiving a practical road map for a successful start-up. Until 2026, 6 such training courses will be held, each planned to educate at least 30 potential managers of start-ups. Thus, we are creating the basis for achieving the goal of increasing the funding invested in research and development to 1.5% of the gross domestic product, promoting the growth of the national economy and strengthening its competitiveness in the global environment."

The course schedule has been designed to ensure a systematic approach and efficient process in organizing each course. Each training cycle will last five weeks, during which participants will attend ten two-hour lectures, as well as practical exercises and individual sessions. The training will take place both online and face-to-face, providing a flexible approach to learning. The courses are free of charge and will be held in English.

The first course will start on October 22, 2024, and the application is open now! 

To get more information about the courses and to register, visit the website: https://www.liaa.gov.lv/en/event/venture-catalysts-hands-guide-starting-knowledge-intensive-business

Andris Baumanis, CEO of UniLab: "This course will provide its participants not only with theoretical knowledge, but also with the practical skills necessary for the creation of science-intensive start-ups. The aim of "Venture Catalysts" is to introduce our future founders of technological start-ups into the global innovation ecosystem, who will not only transform Latvia's knowledge economy, but will also raise Latvia's global competitiveness with their work and energy."

The training program includes the topics necessary to develop a strategy for the commercialization of scientific research. Participants will learn the principles of innovation management and leadership issues, with a focus on how to build a team - this is a vital element in creating startups. Within the program, practical aspects will also be discussed - intellectual property strategy, attracting funding and building an organization. Participants will gain hands-on experience in developing commercialization plans for their research ideas. At the end of the program, the participants will have acquired the basic skills to be able to evaluate the technological advantages of scientific achievements, create a roadmap for the development of a deep-tech company, and start the commercialization process.

The aim of the courses is to create a sustainable and motivating training platform that promotes entrepreneurship and innovation culture, taking into account Latvian legislation, opportunities, and resources. These trainings are specially designed for students, researchers, and academic staff to enable them to develop their ideas and turn them into viable business projects.

The project is carried out with the support of LIAA and in cooperation with UniLab, RTU Riga Business School and RISEBA.

UniLab is the only business accelerator of all Latvian scientific universities (Riga Technical University, University of Latvia, Riga Stradins University, and Latvia University of Life Sciences and Technologies). UniLab's mission is to promote the development of technology-based business ideas and establish high-value companies.

RTU Riga Business School is an internationally accredited business school that offers bachelor's and master's programs following North American standards and traditions. Studies are conducted in English and students have the opportunity to obtain double degree diplomas from the University of Buffalo in USA and BI Norwegian Business School in Norway.

RISEBA University of Business, Arts and Technology is a private, internationally accredited university with more than 30 years of experience, which offers competitive education and prepares high-level specialists and managers in business and creative industries to work in an international environment.

Program Venture Catalyst is funded from the ERDF project "Development of Innovative Entrepreneurship of SMEs" (ID Nr. 1.2.3.1/1/23/I/001).

For additional information:

Elīna Norniece-Muthukrisnana, Riga Business School communication and marketing project manager, elina.norniece-muthukrisnana@rbs.lv